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Innovation and social probable knowledge

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  • Marco Crocco

Abstract

In this paper some elements of Keynes's theory of probability are used to understand the process of diffusion of an innovation. Based on a work done elsewhere (Crocco 1999, 2000), we argue that this process can be viewed as a process of dealing with the collective uncertainty about how to sort a technological problem. Expanding the concepts of weight of argument and probable knowledge to deal with this kind of uncertainty we argue that the concepts of social weight of argument and social probable knowledge can be very helpful to understand the process of diffusion of an innovation.

Suggested Citation

  • Marco Crocco, 2000. "Innovation and social probable knowledge," Textos para Discussão Cedeplar-UFMG td144, Cedeplar, Universidade Federal de Minas Gerais.
    • Handle: RePEc:cdp:texdis:td144
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    File URL: https://www.cedeplar.ufmg.br/pesquisas/td/TD%20144.pdf
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    References listed on IDEAS

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    1. Runde, Jochen, 1990. "Keynesian Uncertainty and the Weight of Arguments," Economics and Philosophy, Cambridge University Press, vol. 6(2), pages 275-292, October.
    2. R. M. O’Donnell, 1989. "Keynes: Philosophy, Economics and Politics," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-07027-5.
    3. Chris Freeman & Luc Soete, 1997. "The Economics of Industrial Innovation, 3rd Edition," MIT Press Books, The MIT Press, edition 3, volume 1, number 0262061953, December.
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    Cited by:

    1. Marco A. Crocco, 2008. "Technical Change And Formation Of Expectations," Metroeconomica, Wiley Blackwell, vol. 59(2), pages 276-304, May.
    2. Nikolaos Triantafyllopoulos, 2008. "Does Land Property Structure Affect Local Development Patterns? Evidence from a Greek Tourist Area," Urban Studies, Urban Studies Journal Limited, vol. 45(4), pages 797-824, April.

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